Electric Boat Gets $2 Bln For Virginia-Class Submarine Material

(RTTNews) - General Dynamics' (GD) subsidiary Electric Boat Tuesday said it received a $2 billion contract from the U.S. Navy for long lead time material to support construction of Block V Virginia-class submarines.

The contract modifies a contract awarded in 2017 that provides funding for long lead time material for steam and electrical plant components, main propulsion unit and ship service turbine generator efforts and miscellaneous hull, mechanical and electrical system components. This modification brings the overall contract value to approximately $3.2 billion.

"This award allows Electric Boat and the submarine industrial base to continue to make preparations for construction of Block V, which will bring additional payload capacity to the Navy. Our team will continue to produce the world's most technologically advanced submarines, safely and efficiently," said Electric Boat President Jeffrey S. Geiger.